“I am extremely disappointed that once again Speaker Boehner and House Republicans have chosen to walk away from talks to reach a comprehensive deficit reduction plan. It is my understanding that Speaker Boehner made an offer for a long-term comprehensive solution, which he's stated he is for, and that the President supports. Unfortunately, included in Speaker Boehner’s offer was an unrelated demand that a portion of the Affordable Care Act be repealed - which would neither help America pay its bills or reduce the deficit.

“By once again walking away, Republicans have put at risk America’s ability to pay its bills. Every American is also put at risk by this action.

“Throughout this process, Democrats have remained committed to a long-term, comprehensive deal to reduce our deficit and have put all options on the table, including reforming entitlement programs. However, Republicans, have not only refused to make concessions, they have walked away from talks, just as they have time and again.

“The markets have made clear that a short-term extension is not sufficient and would result in very serious consequences. Democrats have made it abundantly clear we will not accept a short-term deal, but Republicans have once again refused to negotiate for the long-term. The working families who will be hurt the most by the catastrophic consequences of default will not accept failure and expect us to solve our differences and reach an agreement. But the question remains: Will Republicans say yes to anything?”